Newark Advances Eminent Domain Plan to Slow Foreclosures
Newark, New Jersey's most populous city, is moving forward with a plan that could use government power to seize underwater mortgages to help homeowners reduce debt and avoid foreclosure. The Newark City Council voted unanimously last week to begin legal research toward a program of making marke...
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| Veröffentlicht in: | National Mortgage News 2013-12, Vol.38 (12), p.2 |
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| description | Newark, New Jersey's most populous city, is moving forward with a plan that could use government power to seize underwater mortgages to help homeowners reduce debt and avoid foreclosure. The Newark City Council voted unanimously last week to begin legal research toward a program of making market-value offers on the most toxic loans and reissuing them to homeowners at the lowered amount. |
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| fulltext | fulltext |
| identifier | ISSN: 1050-3331 |
| ispartof | National Mortgage News, 2013-12, Vol.38 (12), p.2 |
| issn | 1050-3331 |
| language | eng |
| recordid | cdi_proquest_reports_1465998563 |
| source | EBSCOhost Business Source Complete |
| subjects | Asset acquisitions Eminent domain Eminent domain (Law) Foreclosure Government sponsored enterprises Housing Legal research Local government Mortgages News agencies Planning Real estate industry Right of property State court decisions |
| title | Newark Advances Eminent Domain Plan to Slow Foreclosures |
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